Sale at 190 East 72nd Street #19A

Search the discussion threads for land lease discussions. Some SE regulars have a very good grasp of the nuances. I do not.

Would also suggest that you repost the question as a discussion about the building, rather than the listing. That way whatever comes of the discussion is visible to anyone else looking at the building in the future, even after 19A sells or is taken off the market.

I really like this apt and the building, but the land lease is a huge turnoff. The prices in the building seem surprisingly high also considering that it is a land lease. Does any one know about the lease? Is it for very long, at a low rate, or with an option to buy it out?

Given the new maint on this listing I would think this appartment needs to trade for next to nothing for the carrying cost to work out with comps... maybe $200K?? over 5K in maint, that is crazy.